South Dakota § 58-29C-45 Purpose of chapter--Creation of association.

South Dakota Statutes

§ 58-29C-45 — Purpose of chapter--Creation of association.

South Dakota § 58-29C-45

Title 58INSURANCE

Ch. 58-29ALIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION

This text of South Dakota § 58-29C-45 (Purpose of chapter--Creation of association.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-29C-45 (2026).

Text

A.The purpose of this chapter is to protect, subject to certain limitations, the persons specified in subpart A of § 58-29C-46 against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in subpart B of § 58-29C-46 , because of the impairment or insolvency of the member insurer that issued the policies, plans, or contracts.

B.To provide this protection, an association of member insurers is organized to pay benefits and to continue coverages as limited by this chapter, and members of the association are subject to assessment to provide funds to carry out the purpose of this chapter.

Free access — add to your briefcase to read the full text and ask questions with AI

A. The purpose of this chapter is to protect, subject to certain limitations, the persons specified in subpart A of § 58-29C-46 against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in subpart B of § 58-29C-46 , because of the impairment or insolvency of the member insurer that issued the policies, plans, or contracts. B. To provide this protection, an association of member insurers is organized to pay benefits and to continue coverages as limited by this chapter, and members of the association are subject to assessment to provide funds to carry out the purpose of this chapter.